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New Jersey Resources (NJR) investor relations material
New Jersey Resources Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary20 Nov, 2025
Executive summary
Fiscal 2025 NFEPS reached $3.29, up 11.5% year-over-year, with net income at $335.6 million ($3.35/share), and utility operations contributing about 65% of earnings.
Delivered excellent fiscal 2025 results, exceeding initial earnings guidance and long-term growth targets for the fifth consecutive year.
Achieved 30 consecutive years of dividend increases, with the annual dividend raised to $1.90 per share and a 4.1% yield as of November 2025.
Strong execution across all business units, including a successful NJNG base rate case, record energy efficiency investments, and a major sale in the solar portfolio.
Financial highlights
Net Financial Earnings (NFE) for FY2025 were $329.6 million, up from $290.8 million in FY2024, with NFEPS at $3.29 compared to $2.95 in FY2024.
Annual operating revenues reached $2.04 billion, up from $1.80 billion in 2024.
Cash flow from operations was $466 million in FY2025, with adjusted FFO at $728.4 million.
Deployed $850 million in CapEx across businesses in fiscal 2025, with 64% allocated to NJNG and 32% to CEV.
Utility contributed roughly two-thirds of total NFEPS; excluding the sale of residential solar assets, this rises to over 70%.
Outlook and guidance
Fiscal 2026 NFEPS guidance is $3.03–$3.18 per share, consistent with a 7%–9% long-term growth rate from a $2.83/share base.
Five-year CapEx outlook of $4.8–$5.2 billion through fiscal 2030, with over 60% dedicated to the utility segment.
Utility expected to contribute about 70% of fiscal 2026 NFEPS, with additional growth from Clean Energy Ventures (CEV) and Storage & Transportation (S&T).
What drives CEV's NFE growth post-residential solar sale?
Energy Services' NFE volatility outlook for FY26?
How do SAVEGREEN® returns impact NJNG's NFE?
How are Leaf River expansion investments secured
What factors enable CEV's accelerated capacity growth
Explain funding for $5B CapEx without equity
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Next New Jersey Resources earnings date
Q1 20263 Feb, 2026
Next New Jersey Resources earnings date
Q1 20263 Feb, 2026
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Frequently asked questions
New Jersey Resources Corporation is an energy services holding company engaged in the distribution of natural gas, clean energy project development, and related services. Its subsidiaries provide residential and commercial energy solutions, including infrastructure development and energy efficiency programs. The company is headquartered in Wall, New Jersey, and its shares are listed on the NYSE.
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